How to Pick the Best High Risk Payment Gateway

What Is A High Risk Payment Gateway?

A high risk payment gateway is a software tool that transfers payment information on your site. It functions as an online terminal or credit card machine for processing e-commerce payments. Key points:

• Facilitates communication between banks
• Authorizes credit card payments for both offline and internet companies
• Processes debit cards, credit cards, eCheck (ACH), and cryptocurrencies

How Does a Payment Gateway Work?

The payment transaction process:

Client places an order and submits payment information

Encoded information is sent to the merchant's processor

Processor routes the transaction to the credit card association

Transaction is approved or declined

Trade gets authorization

Money becomes available after 24 - 48 hours

Applying for a High Risk Payment Gateway

Important considerations:

Don't confuse a payment gateway with a merchant account

Payment Service Providers (PSPs) function as both merchant accounts and payment gateways

Multiple high risk payment gateway options are available

Installation speed varies depending on your industry

Be aware of the fee arrangement (set-up fees, transaction costs, admin expenses)

Best High Risk Payment Gateway Integrations and Features

Key features to look for:

Efficient processing time (usually within a few days)

International and multi-currency payment capabilities

Strong security measures (PCI DSS compliance, tokenization)

Reliable customer support

Support for local credit card types (for international payments)

Ability to handle recurring payments

Integration with existing billing, shopping cart, and accounting software

Choosing the Best High Risk Payment Gateway

To find the best high risk payment gateway:

Seek out an e-commerce application service provider

Look for providers specializing in high-risk industries

Consider partnering with a trustworthy payment processor (e.g., PayKings)

Ensure the gateway meets your specific business needs

Remember, the company providing your high risk merchant account is typically the same one that will be your payment processing provider.